Link to his full article: http://thewebkid.com/Escapia.aspx

At least the company is being acquired instead of simply running out of money and shutting down.

Lesson 1: Don't invest money you can't afford to lose, especially in a high risk startup.

Lesson 2: Don't work for free for 2 years for anyone (except yourself). Doing it for 4% equity is absurd.